1756 Laws of Maryland Ch. 618
the validity of said bonds is hereby ratified, confirmed and approved.
This Act, being necessary for the welfare of the inhabitants of Prince
George's County, shall be liberally construed to effect the purposes
hereof. All Acts and parts of Acts inconsistent with the provisions
of this Act are hereby repealed to the extent of such inconsistency.
Sec. 10. And be it further enacted, That, this Act shall take effect
on the first day of June, 1970.
Approved May 5, 1970
CHAPTER 618
(House Bill 988)
AN ACT to authorize and empower the County Commissioners for
Prince George's County, from time to time, to borrow not exceed-
ing Five Million Dollars ($5,000,000) in order to finance the con-
struction, acquisition, improvement or extension of certain public
facilities, as herein defined, and to effect such borrowing by the is-
suance and sale to the highest bidder or bidders at public sale
of its general obligation, serial maturity coupon bonds in like par
amount; empowering said County to fix and determine, by resolu-
tion, the form, tenor, interest rate or method of arriving at the
same, terms, including redemption and registration provisions,
conditions, maturities and all other details incident or necessary to
the issuance, public sale and delivery of said bonds, without ref-
erence to any other law heretofore enacted; prescribing the method
and manner of selling said bonds at public sale; empowering said
County to sell said bonds at, above or below the par value there-
of; empowering said County to refund any of said bonds pur-
chased or redeemed in advance of maturity; empowering said
County to apply to the payment of principal and interest of said
bonds and said refunding bonds any funds received from the
State of Maryland and the United States of America, which may
be properly allocable to said purpose; empowering and directing
said County to contract to levy and to levy, impose and collect
annually ad valorem taxes which, in addition to the State and Fed-
eral allotments, if any, will provide funds sufficient for the pay-
ment of said maturing principal and interest; exempting said
bonds and said refunding bonds and the interest thereon from
all State, county and municipal taxation in the State of Mary-
land; and providing that the power to incur indebtedness and
issue bonds therefor under the provisions of this Act is additional
and alternative authority for borrowing money and shall be re-
garded as supplemental and additional to powers conferred upon
the County by other laws.
Section 1. Be it enacted by the General Assembly of Maryland,
That, as used herein, the term "County" shall mean the body poli-
tic and corporate of the State of Maryland known as the County
Commissioners for Prince George's County, and the term "public
facilities" shall mean the construction, reconstruction, extension, ac-
quisition, improvement, enlargement, alteration, repair and modern-
|
![clear space](../../../images/clear.gif) |